## **UACC CITADEL OF PRAISE**
**TRUSTEE REPORT & FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[ST] MARCH 2024**
**Charity Registration No: 1176370**
## **REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS**
**Board of Trustees:** Abiodun Adetayo Adesoni Anthonia Adeola Omolara Akpojiyovwi Olatunji Erinle **Charity Registration No: 1176370 Principal Office:** 703, Stockport Road, Levenshulme, Manchester, M12 4QN
## **TRUSTEES' REPORT**
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Method of Appointment or Election of Trustees**
The management of the Charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Trust deed.
## **Policies Adopted for the Induction and Training of Trustees**
New trustees are issued with an orientation pack that details their legal obligations under charity law, the charities decision making processes and recent financial performance of the charity. Trustees are encouraged to attend appropriate external training events where these will facilitate the undertaking of their role. Charities Commission bulletins / updates are also forwarded to Trustees as and when issued.
## **Objectives and Aims**
UACC Citadel of Praise, is a Christian organization to advance the Christian faith for the benefit of the public in accordance with the statements of belief appearing in the schedule as the trustees from time to time deem fit.
## **Reserves policy**
The trustees review the Reserves policy of the charity annually. The review encompasses the nature of the income and expenditure stream. The Trustee's policy is generally to maintain reserves at a low level and to apply charities income to funding its activities.
## **Principal funding sources**
Our main principal funding sources are from Donations from church members and other Christian organisation.
## **Financial Review**
Our main source of income this past financial year has been from Donations from members. For the financial year ended 31[st] March 2024, the funds were spent on the on the expenditures in the income statements.
## **Plans for the Future Periods**
For the coming year, the board plans to continue the running of the church and seek more expansion programs that can draw more people to the Kingdom of God.
## **Trustees Responsibility Statement**
For the Year ended 31st March 2024, the trustees are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and Charities Act 1993.
The provisions of the trust deed require the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources including the income and expenditure of the charity for that period.
In preparing those financial statements, the trustees are required to select suitable accounting policies and then apply them consistently; observe the methods and principles in the Charity Act 1993 make judgements and estimates that are reasonable and prudent and prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in business.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and Charities Act 1993.
They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
## **ON BEHALF OF THE BOARD** :
## _Olatunji Erinle_
............................................. Financial Secretary
Date: 12[th] September 2024
## **UACC CITADEL OF PRAISE INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31ST MARCH 2024**
|**UACC CITADEL OF PRAISE**
**INCOME AND EXPENDITURE ACCOUNT**
**FOR THE YEAR ENDED 31ST MARCH 2024**|**CITADEL OF PRAISE**
**EXPENDITURE ACCOUNT**
**ENDED 31ST MARCH 2024**||
|---|---|---|
|**£**
**INCOME:**
Church collections:
Cash
8,329.49
Bank
27,420.58
Gift Aid
National Lottery
Other Donations Received
**EXPENDITURES:**
Rent
12250.00
Pastor Salary – Stipend
Employee Salary
16,200.00
15165.12
Vehicle Insurance
720.53
HMRC payment
751.53
Charity Donation
Grant Consultation & Expense
264.50
2774.04
Admin Expenses and Repairs
Accountancy & Audit
2649.00
400.00
Depreciation:
Equipment
135.00
Furniture and Fittings
200.00
**NET INCOME FOR THE YEAR**
**UACC CITADEL OF PRAISE**
**BALANCE SHEET**
**FOR THE YEAR ENDED 31ST MARCH 2024**
**NOTES**
**ASSETS:**
Equipments
1.00
Furniture and Fittings
1.00
**Current Assets:**
Bank
**FINANCED BY:**
Accumulated Funds|**£**
8,329.49
27,420.58|**£**
**35750.07**
**19743.46**
**9950.00**
**200.00**|
||
12250.00
16,200.00
15165.12
720.53
751.53
264.50
2774.04
2649.00
400.00
135.00
200.00
||
|||**65643.53**
**53732.04**|
|||**11911.49**|
|||**£**
1215.00
700.00|
|||1915.00
30122.73|
|||**32037.73**|
|||20126.24|
Surplus Income
11911.49
32037.73
**WORKINGS AND NOTES - 1**
|It is assumed that all assets||||
|---|---|---|---|
|are depreciated at||||
|10% on cost||||
|**FIXED ASSETS**|**COST**|**DEP**|**NBV**|
||**£**|**£**|**£**|
|Equipments|3,0 00.00|1,785.00|1215.00|
|Furniture and Fittings|2,000.00|1,300.00|700.00|
.
## **UACC CITADEL OF PRAISE**
**TRUSTEE REPORT & FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[ST] MARCH 2024**
**Charity Registration No: 1176370**
## **REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS**
**Board of Trustees:** Abiodun Adetayo Adesoni Anthonia Adeola Omolara Akpojiyovwi Olatunji Erinle **Charity Registration No: 1176370 Principal Office:** 703, Stockport Road, Levenshulme, Manchester, M12 4QN
## **TRUSTEES' REPORT**
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Method of Appointment or Election of Trustees**
The management of the Charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Trust deed.
## **Policies Adopted for the Induction and Training of Trustees**
New trustees are issued with an orientation pack that details their legal obligations under charity law, the charities decision making processes and recent financial performance of the charity. Trustees are encouraged to attend appropriate external training events where these will facilitate the undertaking of their role. Charities Commission bulletins / updates are also forwarded to Trustees as and when issued.
## **Objectives and Aims**
UACC Citadel of Praise, is a Christian organization to advance the Christian faith for the benefit of the public in accordance with the statements of belief appearing in the schedule as the trustees from time to time deem fit.
## **Reserves policy**
The trustees review the Reserves policy of the charity annually. The review encompasses the nature of the income and expenditure stream. The Trustee's policy is generally to maintain reserves at a low level and to apply charities income to funding its activities.
## **Principal funding sources**
Our main principal funding sources are from Donations from church members and other Christian organisation.
## **Financial Review**
Our main source of income this past financial year has been from Donations from members. For the financial year ended 31[st] March 2024, the funds were spent on the on the expenditures in the income statements.
## **Plans for the Future Periods**
For the coming year, the board plans to continue the running of the church and seek more expansion programs that can draw more people to the Kingdom of God.
## **Trustees Responsibility Statement**
For the Year ended 31st March 2024, the trustees are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and Charities Act 1993.
The provisions of the trust deed require the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources including the income and expenditure of the charity for that period.
In preparing those financial statements, the trustees are required to select suitable accounting policies and then apply them consistently; observe the methods and principles in the Charity Act 1993 make judgements and estimates that are reasonable and prudent and prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in business.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and Charities Act 1993.
They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
## **ON BEHALF OF THE BOARD** :
## _Olatunji Erinle_
............................................. Financial Secretary
Date: 12[th] September 2024